Condos

12/06/07 10:54am

Stanford Lofts: Your Parking Lot Is Safe from the Dynamo

Downtown, Lofts, Parking, Proposed Developments

Balcony of Stanford Lofts Unit 409

A resident of the Stanford Lofts just east of Downtown writes in to make sure everyone knows, after all, that the building’s view of Minute Maid Park is not going to be obstructed by . . . a view of a new soccer stadium for the Houston Dynamo directly across the street.

No, no official deal’s been announced. But this tidbit from a Chronicle story has allowed condo owners to breathe a sigh of relief:

The Dynamo first set sights on land owned by the Harris County-Houston Sports Authority just east of Minute Maid Park and U.S. 59, but have since decided against the property, which the Astros lease for stadium parking.

“We know for a fact (the property) is no longer being considered,” said Sports Authority head Kenny Friedman, who added that the Sports Authority is not actively involved in the negotiations.

The team might be looking to purchase private land near the same general area as the county-owned property, although Luck declined to confirm or deny it, saying only that a downtown venue is still planned.

So where will the Dynamo stadium go? Keep reading below the fold:

77003, Condos, Downtown, Dynamo Stadium, Lofts, Minute Maid Park, Proposed Developments, Stanford-Lofts

11/09/07 1:27pm

Forty-Two New Condos in the Old First Ward

Development Strategy, First Ward, Homebuilders, New Construction, New Construction: Residential, Parking, Proposed Developments

Site Plan for Sawyer Brownstones by Terramark Homes at 2110 Shearn St., Houston

How do you pack so many condos into an old warehouse building in Houston’s First Ward? Easy! You knock the warehouse down, build a gate around the block, and pack â€™em in!

Permit in hand, Terramark Homes begins construction on the Sawyer Brownstones at 2110 Shearn St. The forty-two units will take up the block surrounded by Shearn, Hemphill, Spring, and Henderson Streets, just south of I-10.

No images of the outside yet, so it’s hard to say if these brownstones will indeed have brown stone or just be brownstone-like. But continue after the jump and we’ll show you the secret to shoehorning so many townhome-style condos into a single block!

77007, Construction Materials, Demolitions, Development Strategy, First Ward, Garages, Homebuilders, New Construction, New Construction: Residential, Parking, Proposed Developments, Townhomes

11/08/07 11:22am

The Titan: Rocketship Condos on Post Oak

Galleria, Highrises, New Construction, New Construction: Residential, Proposed Developments, Real Estate Marketing

Randall Davisâ€™s Proposed Titan Condo Tower on Post Oak Blvd. near the Galleria, Houston

Now that a drawing of the Titan condo tower has been posted on the proposed Galleria development’s website, it’s clear why Randall Davis wasn’t so worried that potential buyers would be distracted by the McDonald’s that’s gonna be rebuilt next door. One look at the Titan tower poised on top of its launch-pad parking garage, and you’ll likely become more concerned about lift-off than drive-thru.

Where are the rocket boosters? And will the heat-shield tiles stay on? Don’t worry — as with most Randall Davis projects, the Titan will only reach a comic-book-level approximation of its theme. To confuse things further, Michelangelo’s statue of David appears to have been chosen as the tower’s mascot.

Titan [Randall Davis Company]
The Luxury Highrise and the Drive-Thru: Theyâ€™re Lovinâ€™ It! [Swamplot]

77056, Condos, Development Strategy, Fast Food, Galleria, Highrises, New Construction, New Construction: Residential, Proposed Developments, Randall Davis, Real Estate Marketing, Restaurants, Titan

Buying and Selling

11/02/07 10:38am

The Collapse of 1342 Rutland

Condos, Foreclosures, Homeowners' Associations, Homes for Sale, Houston Heights

1342 Rutland Lofts, Houston Heights

Just what is it about cheaply built condos in Houston that attracts so much, uh . . . “bank interest”? According to HCAD, of the fifteen condo units at 1342 Rutland in the Heights, only six have non-bank owners — and that includes the three owned by Freddie Mac, the “1342 Rutland Lofts Council,” and an investment group. Fortunately for buyers, the financial institutions appear to have no desire to hold onto the condos for corporate housing: eight of the units are on the market, and four more are due to be auctioned off at the huge REDC foreclosure extravaganza at the Reliant Center on November 17th.

(Special bonus for foreclosure bidders: the same auction features four units from Swamplot favorite Tremont Tower!)

Sure, there’s a downturn, and maybe a few problems with some nasty mortgages, but why do so many foreclosures concentrate on a few ugly buildings?

HAIF poster Kirzania provides a few clues:

from the inspector’s findings it would appear the second level of condos was added to the top of a pre-existing building. However, the first level was not reinforced for the second story. The walls were bowed on the first level and there were evident issues of structure problems. My understanding was there wasn’t a problem with the foundation itself, but the frame of the building.

The HOA itself sounded like it was barely staying afloat; the banks owe the HOA $$$$$ for past dues but these funds are being held up in bureaucratic nonsense. I would very much reconsider even stepping foot in this place.

Let the bidding begin!

1342 Rutland St., Units 101, 102, 103, 202, 204, 205, 207 & 210 [HAR]
Huge One Day Houston Foreclosure Auction! [Real Estate Disposition Corporation]
1342 Rutland Condo [HAIF]
The Dirty Little Secret Behind the Montrose Foreclosure Hump [Swamplot]

77008, Auctions, Buying and Selling, Condos, Foreclosures, Homeowners' Associations, Homes for Sale, Houston Heights

Chinatown

10/30/07 2:51pm

Park 8: The Land of Oz Comes to Houston

Commercial Real Estate, Condos, Highrises, Medical Buildings, Mixed Use, Parks, Proposed Developments, Retail, Shopping Centers, Strip Centers

CEO David Wu told the Houston Business Journal last year, “It’s the sort of thing you’d see in Taiwan or Hong Kong, but we’re putting it here in the U.S.”

That’s a good description of Park 8: The Land of Oz. Here’s another one, from the project website:

The Park8 is carefully designed over and over again, improving to its perfect design today. More important, it nicely put urban life and nature together with equal force. With itâ€™s high quality exterior finish, and itâ€™s splendidly designed floor plans, the Land of Oz emphasis on unrestrained openness and convenience. Every penny is well worth for its consideration on security and safety issues, recreational areas, leisure activity clubhouses and beautiful landscaping design.

Wow.

How about a third try: three 26-story condo towers and a couple of parking garages on 17 acres next to Beltway 8, south of Bellaire Blvd., bounded by Arthur Storey Park on one side and parking lots for two two-story retail strips on the other. Also part of the project, but not shown on the plans: a new Chinatown General Hospital.

The first phase is under construction. And condos are for sale! All come with good Feng Shui and karaoke, courtesy of the 3CmyBox included in every unit. If you like the project video above, you’re going to love the development’s website, which includes a “Somewhere Over the Rainbow” soundtrack and prominently features six videos for the feature-packed 3CmyBox in the Photo Gallery section.

The project’s tagline:

A union of Western an Chinese Culture. A combination of fantasy and reality.

After the jump, off to see the Wizard!

77072, Chinatown, Commercial Real Estate, Condos, Highrises, Hospitals, Medical Buildings, Mixed Use, Parks, Proposed Developments, Retail, Shopping Centers, Strip Centers

Commercial Real Estate

10/17/07 9:41am

The Luxury Highrise and the Drive-Thru: They’re Lovin’ It!

Condos, Development Strategy, Galleria, Highrises, New Construction, New Construction: Residential, Proposed Developments, Restaurants

Future Site of the Titan on Post Oak Blvd., with the Cosmopolitan Tower in the Background

Future residents of the Titan, the latest cartoon-themed condo to be announced by Randall Davis, will be pleased to learn that the two-story McDonald’s currently sitting on the tower’s proposed site on Post Oak Blvd. is not going away. It’ll just scoot over slightly—so that the 26-story, 80-unit luxury highrise can share the 50,000-square-foot site.

And just how prominent will those golden arches be at the Titan’s entrance?

Sure, it’s easy to poke fun of the luxury highrise next to the Mickey D’s, but think about it: If McDonald’s hadn’t been willing to risk its reputation by redeveloping next to a Randall Davis project, the Titan would never have had a chance:

The prime real estate, located across Garrettson from Willie G’s Seafood & Steak House, has been sought-after by developers for more than a year.

“We’re approached every day of the week,” says Kathy Burns, McDonald’s regional real estate manager in Houston. “We have brokers calling us all the time.”

Davis — who is replacing the former James Coney Island restaurant a block away with the Cosmopolitan high-rise — was able to strike a deal with McDonald’s because he was not set on a super-sized development.

“I was like everybody else. I wanted to buy the whole site,” Davis says. “But they didn’t want to give up the store.

“I figured out how to divide the site,” he adds. “I managed to fit my building on there, and leave them enough room for their prototype new store.”

Davis has once again demonstrated a remarkable talent for negotiating with fast-food restaurants. Only a few years ago, he was able to convince the owners of the lot across the street that his 20-story hot-dog Cosmopolitan tower (now under construction) would be a worthy successor to the James Coney Island that stood there. Of course, turning over a big bite of the development to the James Coney Island folks didn’t hurt his prospects either.

Expect the cars to be lining up in front of the newly recycled Titan sales trailer already on the McDonald’s lot. Okay, so maybe they’ll just be battling to get to the drive-thru, but there’ll be traffic!

Developer drives through with condo deal on McDonald’s land [Houston Business Journal]
Cosmopolitan condos to replace coney islands [Houston Business Journal]
The Cosmopolitan Houston [Randall Davis Company]

77056, Commercial Real Estate, Condos, Development Strategy, Fast Food, Galleria, Highrises, New Construction, New Construction: Residential, Proposed Developments, Randall Davis, Restaurants, Titan

Apartments

09/21/07 10:23am

Supermod Boulevard Place: Replacements First

Commercial Real Estate, Condos, Demolitions, Development Strategy, Galleria, Highrises, Hotels, Leasing, Mixed Use, New Construction, New Construction: Residential, Office Buildings, Proposed Developments, Retail, Shopping Centers

Aerial View of Blvd Place

Having trouble leasing upscale retail space in your giant mixed-use redevelopment project? No prob. Just build sleek new quarters for your existing tenants first. When they move, demolish their old building and build your new project in its place. Somebody else has gotta sign up by then, right?

The Houston Business Journal gives some details of Wulfe & Co.’s plans at the Galleria-area Boulevard Place:

The first building will rise at the project’s southern boundary, at the northwest corner of Post Oak Boulevard and Ambassador Way. The 70,000-square-foot building will house seven tenants currently in the Pavilion on Post Oak and Fashion Place retail centers that are relocating to Blvd Place — including Cafe Annie, Americas and Hermes. Once the tenants move, the older retail centers will be demolished and the remainder of Blvd Place will go under construction.

Retail, of course, is just part of the picture. There’s a hotel, condos, and an apartment building in the project . . .

Wulfe would not disclose the hotel name because the hospitality company wants to make the announcement, probably in about a month. However, he did reveal that the 225-room luxury hotel will include 175 to 200 high-end condominiums on the upper floors.

Wulfe also said it is “pretty definite” that the apartment building will be developed by Houston-based Hanover Co. An industry source says Hanover plans to buy Wulfe’s land for a 55-story apartment tower, making it the second-tallest building in the Galleria area behind the Williams Tower.

But what about the rest of that retail?

Whole Foods Market Inc. announced last year that it will build a 78,000-square-foot flagship store at the southwest corner of Post Oak and San Felipe. There are currently no other new tenants signed.

No other new tenants signed? That leaves just over 350,000 square feet of planned retail space in the development still available. No word in the article either about the 120,000 square feet of boutique office space, mostly on two stories above the retail. And construction is scheduled to start next month.

Wulfe joked at last week’s Commercial Real Estate Women luncheon that come Oct. 1, “somebody’s going to be shoveling something” at the site . . .

After the jump: renderings of that superbig, supermod Whole Foods that ate Eatzi’s, plus more Boulevard Place images.

77056, Apartments, BLVD Place, Commercial Real Estate, Condos, Demolitions, Development Strategy, Galleria, Highrises, Hotels, Leasing, Mixed Use, New Construction, New Construction: Residential, Office Space, Proposed Developments, Retail, Shopping Centers, Whole Foods

Apartments

09/20/07 8:16am

Can’t Stop This: Southampton Pop-Up Tower

Boulevard Oaks, Condos, Development Strategy, Green Design and Development, Highrises, Mixed Use, Neighborhood Disputes, New Construction, New Construction: Residential, Proposed Developments, Retail, Southampton, Trees

Cartoon of Highrise Planned for 1717 Bissonnet One advantage of keeping your Houston-style Big Tower in a Wealthy Residential Neighborhood project secret: You can plat the property, prepare traffic-impact studies, and upgrade utilities before anyone notices. One downside: Media-savvy neighbors might catch on and announce your project before you do. Or at least release renderings.

Here’s what Buckhead Investment Partners is saying about the 23-story mixed-use tower the company is planning for the current site of the Maryland Manor apartments, on the south side of Bissonnet near Dunlavy: A six-story base will include a 467-car parking garage, space for retail and a restaurant on the ground floor, and five live-work townhomes. An “amenity plaza” level on the sixth floor will have an exercise room, spa, and office space. Above it all: 17 floors of either apartments or condos.

Rainwater collection. LEED-Silver rating. Red-brick exterior with cast-stone details. But best of all is the spin:

The project design has been chosen so that all building residential units will be above the tree line, ensuring the greatest level of privacy for the surrounding neighborhood and the maximum view of Houstonâ€™s skylines and tree canopy from the units.

Emerging Boulevard Oaks development strategy: You won’t be able to see us, because we’ll be above the trees.

We want development…but not that much! [Houston Political Blog]
High rise plan not picture perfect with Museum District residents [abc13]
Redevelopment of 1717 Bissonnet [Buckhead Investment Partners, Inc.]

77005, Apartments, Ashby Highrise, Boulevard-Oaks, Condos, Green Development, Highrises, Mixed Use, Neighborhood Disputes, New Construction, New Construction: Residential, Proposed Developments, Retail, Southampton, Trees, Utilities

Commercial Real Estate

08/27/07 8:34am

Houston Pavilions: Woulda Coulda Shoulda

Condos, Development Strategy, Downtown, Mixed Use, New Construction, Nightlife, Office Buildings, Parking, Proposed Developments, Retail, Shopping Centers

Houston Pavilions Aerial View, Downtown Houston

If you’re curious why the developers of Houston Pavilions, the $70 million mixed-use development under construction downtown, decided not to mix anything other than office space with their 360,000 square feet of retail and “entertainment” space, you’ll be interested to read the comments L.A. developer Bill Denton made to the CoStar Group:

[Entertainment Development Group] put the site under contract in January 2004, then three surface parking lots and a multi-level parking garage sitting on just over 4 acres, and the project has evolved ever since. “We originally planned for a hotel/condo component, but at the time, the city was just finishing off convention center hotels and hotel occupancy was only 52%; now its difficult to find a hotel room in Downtown Houston. So, we changed the plan into two residential towers, which stuck until 12 months ago. Demand on the residential was tremendous, but because of the mixed-use and density, we would have had to do subterranean parking, which blew the economics of the residences out of the water. So now its 200,000 square feet of office space, and based on demand for that so far, I wish we could do 400,000 square feet.”

77002, Commercial Real Estate, Condos, Development Strategy, Downtown, Houston Pavilions, Mixed Use, New Construction, Nightlife, Office Space, Parking, Proposed Developments, Retail

08/21/07 8:00am

Tune In to the Turnberry Tower

Galleria, Highrises, Proposed Developments

Turnberry Tower Residences at the Galleria Exterior Rendering

This wide headstone, set to rise behind the Galleria Waterwall like a giant radiator grille poached from a 1948 Packard Custom 8, is Houston’s Turnberry Tower. At 34 stories (marked down from 42 threatened previously), it’ll reach just above the groin of the adjacent landmark Williams Tower.

The 184 condominium units inside, which will range from $1 million to $8.5 million, go on sale in two weeks when the 12,000-sf sales center opens. The building is scheduled to be finished by the start of the next decade.

What’ll $8.5 mil get you? One of two 15,000-sf units at the top, each of which boasts four bedrooms and—no, we’re not shitting you—nine-and-a-half bathrooms. Why will residents need so many?

For the entry-level price of $1 million, you’ll have to make do with less than 1800 square feet. But all residences feature private elevators, 10- and 11-foot ceilings, a fireplace to keep you warm on chilly Galleria nights, and terraces with glass railings. The building will have a spa and fitness center, a theater room, social rooms including a tea room and library, and a swimming pool atop the four-story parking garage.

Uncomfortable with the communal parking? Don’t worry: Twenty-five private air-conditioned garages will also be available.

Turnberry Tower Residences at the Galleria
Turnberry Tower beginning sales push [Houston Business Journal]
Proposed tower near Galleria high on luxury [Houston Chronicle]

Image: Robert M. Swedroe Architects and Planners

77056, Condos, Galleria, Highrises, Luxury Highrises, Turnberry Tower, Williams Tower

Buying and Selling

08/20/07 3:54pm

Sonoma Units Available?

Condos, Development Strategy, Mixed Use, New Construction, New Construction: Residential, Proposed Developments, Rice Village

77005, Buying and Selling, Development Strategies, New Construction: Residential, Proposed Developments, Rice-Village, Sonoma

Interior Rendering of Model Living Room, Sonoma

Our story on the Rice Village’s Sonoma development last Thursday repeated KHOU reporter Lee McGuire’s claim:

The developer says potential buyers have reserved all but four of the new condos.

But Jennifer Friedberg’s writeup in this past weekend’s Chronicle sez otherwise:

A total of 115 of the 220 units for sale in Sonoma are already reserved, Tysor said.

That’s quite a number of buyers backing out of their reservations in a very short period, no? But even more curious is this:

The number of units continues to change depending on the square footage potential residents select for each condo.

Contracts won’t be signed until later in the process.

That’s right, ma’am, just tell us how big you’d like your kitchen and we’ll move the wall there.

Why Houston is $1.5 M richer [KHOU]
City Council approves sale, abandonment of Bolsover in Rice Village [Houston Chronicle]
Council Bowls Over, So No More Street [Swamplot]

08/17/07 10:40am

Mosaic: Second Tower Rising

Development Strategy, Financing, Hermann Park, Highrises, Mixed Use, New Construction, New Construction: Residential

Mosaic Tower Under Construction, July 2007

The glass tower is half full: 218 of the 394 units in the first Mosaic tower have been sold, reports the Houston Business Journal. Are those just the north-facing units? Because directly to the south, the second tower is ready for liftoff:

Phillips Development & Realty LLC of Tampa, Fla., which is developing both condominium towers near Hermann Park at a cost of $203 million, secured a $141 million loan from Chicago-based Corus Bankshares Inc. last week to refinance the first building and finance the second one. . . .

Phillips says the company financed the first Mosaic tower as a rental property because that was the only way to secure funding.

Why is it called Mosaic? There are a lot of tiny units in there, 18 to a floor, averaging 980 square feet. They start at $165,000.

Mosaic orders double-dip as second condo tower moves forward [Houston Business Journal]
Mosaic on Hermann Park

77004, Condos, Financing, Hermann Park, Mosaic and Montage, New Construction, New Construction: Residential

Commercial Real Estate

08/16/07 10:43pm

Council Bowls Over, So No More Street

Condos, Leasing, Lofts, Mixed Use, New Construction, New Construction: Residential, Proposed Developments, Rice Village

Rendering of Sonoma in the Rice Village, Showing Bolsover Street

Ignoring the objections of snooty inner-loopers who think they’re somehow entitled to a continuous grid of streets, City Council voted yesterday to let a block of Bolsover in the Rice Village become two private circular driveways and a restaurant patio. The deal nets the city a whopping $1.5 million—the price of a couple of small luxury condos, maybe.

That’s the last hurdle for Sonoma, which appears to have gained two stories since its last appearance here. Developer Randall Davis claims buyers have “reserved” all but four of the 225 condos. There’s also 125,000 sq. ft. of retail and office space in the complex.

After the jump, a revised aerial view of the new Bolsover dropoff.

77005, Commercial Real Estate, Condos, Leasing, Mixed Use, New Construction, Randall Davis, Retail, Rice-Village, Sonoma, Streets

Apartments

08/10/07 7:29pm

River Oaks To Move West, Add Hotels, Apartments, Offices, and Shopping

Commercial Real Estate, Condos, Highland Village, Highrises, Malls, Mixed Use, New Construction, New Construction: Residential, Office Buildings, Proposed Developments, Retail, River Oaks, Shopping Centers

Street Perspective of Proposed River Oaks District Development by Oliver McMillan

Aerial View of Proposed River Oaks District Mixed Use Development The Houston Business Journal gives more details on the River Oaks District, a 15-acre, $600 million mixed-use development proposed for Westheimer just inside the loop, on the site of the Westcreek Apartments, between Highland Village and the Galleria. It’s hard to imagine River Oaks moving further west than that. Once you get to the other side of the loop of course, you might as well call yourself Tanglewood.

Two luxury hotels are on tap. The five-star properties will have a total of 500 guest rooms, and 150 condominiums for sale at the top of one tower.

Another building will hold 300 upscale apartment units. A 10-story office building with 250,000 square feet of space also is part of the mix. And since the Galleria is synonymous with shopping, the developer plans 350,000 square feet of mostly ground-level retail space.

San Diego developer OliverMcMillan says groundbreaking is scheduled for a good year-and-a-half from now. So there’s plenty of time for this project to morph into a more typical Houston-style mixed-use project: maybe a stylish Sam’s Club next to some shiny new apartments?

After the jump, plans and more flashy drawings!